While somewhat rare in our area, Boise Idaho real estate wire fraud is alive and well.
How It Happens
Many e-mail addresses can be found on social media and hackers use this information to facilitate their scheme.
e-mail hackers target a buyer by sending fraudulent e-mails that appear to be from the buyer’s real estate agent, real estate broker, lender or the title company.
These e-mails include fraudulent wire instructions.
How To Protect Yourself
- Confirm wiring instructions verbally with your escrow officer and title company before initiating a wire.
- Do not use a phone number from an e-mail signature line to initiate the call.
- Look closely at the e-mail address the request is coming from.
- Be suspicious of requests to wire funds more than a week prior to closing or requests to wire a partial amount.
- Most title companies do not require an advance deposit.
- Be suspicious of e-mails informing you of a change in the wiring instructions.
Watch this VIDEO for more information!
During his 44 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.
Phil is one of only ten local Realtors® (of nearly 5,500) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.